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TRUMP The market value of Hunter Biden's "LAPTOP" meme coin plummeted by more than 90% in a matter of hours.
Hunter Biden's new "LAPTOP" meme Coin fell sharply from its peak high of more than $200 billion shortly after its launch, with a drop of more than 90%. This violent fluctuation is mainly due to the high concentration of chips and extreme market trading shocks.
Core Points
- The valuation of the LAPTOP token fluctuates: The token briefly hit a fully diluted valuation (FDV) high of $200 billion after breaking the $100 billion mark, and then quickly fell to a low of about $2 billion.
- Highly concentrated chips: According to supply data cited by CoinGape, founding teams, airdrops, foundations and liquid wallets account for nearly 90% of the total supply of tokens.
- Early traders had very different fates: Early trading showed very different results, with one trader making a profit of nearly US$1 million, while the other losing nearly US$200,000.
Price Crash and Valuation Trap
According to DexScreener data, the LAPTOKEN token was launched on September 9 with an initial fully diluted valuation (FDV) of just over $100 billion. A brief price surge followed, pushing its theoretical valuation past US$200 billion, but then collapsed and fell to about US$2 billion.
The rapid reversal of the market reveals the weakness of fully diluted valuations (FDV) that may exaggerate the size of the project, because the FDV is based on multiplying the quoted token price by the total supply rather than measuring the amount of capital actually invested.
Supply concentration further exacerbates risks. According to Bubblemaps data cited by CoinGape, before the launch of the token, founders, airdrop wallets, foundations and liquidity wallets together held nearly 90% of the supply; of which, Biden and his co-founders controlled as much as 30%.
Huge differences between token economics and traders
Sharp market volatility has led to very different outcomes for early traders. According to Onchain Lens, a trader bought 9,120 LAPTOP tokens for US$249,000, then sold all positions for US$1.2 million, making a profit of nearly US$1 million.
However, another trader recorded by Onchain Lens suffered huge losses. The trader spent $200,000 to buy 919 LAPTOP tokens at a price of approximately $218 each, but eventually the value of his position fell to less than $2,000.
Market maker activities and market outlook
Market maker participation adds another variable to the market. CoinGape cited data from Onchain Lens as pointing out that market maker Wintermute received 2.5 million LAPTOP tokens, transferred 2.09 million of them to trading wallets in 356 transactions, and then sold about 500,000 coins, cashing in about $2 million. In addition, some tokens are also routed to recharge addresses on exchanges such as Kraken, Gate and KuCoin.
Before the launch of the token, Coin Bureau founder Nic Puckrin said in an interview with Business Insider that despite strong initial demand, this is not enough to ensure the long-term sustainability of LAPTOP, pointing out that political memes have generally had poor historical performance.
LAPTOKEN is positioned as a political counterattack against U.S. President Donald Trump and his issuance of TRUMP tokens. The project plans to airdrop up to 20% of supply, including some traders who have suffered losses on TRUMP tokens. During the pre-allocation stage, Biden and the founders received as much as 30% of the supply. Together with other related wallets, the founding team, airdrops, foundations and liquidity wallets together accounted for nearly 90% of the supply.
